China Resources Pharmaceutical Group Limited - Stock Analyst Research

Target Price*HKD 54.95
Recommendation ACCUMULATE
Market Cap*28.21B
Publication Date25 May 2022

*At the time of publication

華潤醫藥(3320.HK) 推進數字化轉型和並購合作,通過創新和差異化發展打造 競爭優勢

投資概要
華潤醫藥是中國領先的綜合醫藥公司,公司業務涵蓋醫藥產品的製藥、分銷、零售和
其他業務營運,產品組合包括化學藥、中藥、生物藥以及營養保健品等廣泛的治療領
域,在研產品覆蓋心血管系統、呼吸系統、抗腫瘤、中樞神經系統、免疫系統、泌尿
生殖系統、血液、消化道和新陳代謝、抗感染、中藥經典名方等。華潤醫藥公佈 2021
年全年業績,公司實現總收入 2,368.06 億港元,同比增長 18.2%,主要得益於疫情緩
解,業績實現恢復性增長。尤其以醫藥分銷業務對於收入增長貢獻佔比最大。整體淨
利潤達到 66.47 億港元,同比增長 24.9%;歸屬於母公司所有者淨利潤 37.69 億港
元,同比增長 14.3%。

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IMPORTANT INFORMATION

This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

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